17 Dec 2003
e-gold Spend Fee Formula to change 2004-01-01
| Valued
e-gold Users:
In January, e-gold Ltd. will announce its new Micropayment Initiative for Online Digital Content. To better support enhanced micropayment capabilities, a new formula for calculating e-gold Spend fees will be put into effect January 1, 2004, the first substantive adjustment since 1996. The new formula corrects some longstanding peculiarities. For example, in the past, extremely small value (less than a penny) silver payments were permitted despite both the transaction amount (and especially the fee) being so tiny as to serve no consequential economic purpose. Another anomaly that will be corrected is the cap on Spend fees. In the past, this cap has been calculated according to US dollar equivalence, at 50 cents. This is being changed to a weight-based cap, which varies from e-metal to e-metal. Well established advantages of e-gold will not change. Unlike virtually every other alternative payment system, e-gold will continue to be bi-directional, with no arbitrary distinction between "consumers" (payers) and "merchants" (entities that receive payments). Every e-gold account remains fully capable of making and receiving payments and there is no fee for making a Spend. The new formulas are: |
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| e-gold Spends... | |||
| >= | < | Formula | |
| AUG
0.0004 |
AUG 0.1 | 5% + AUG 0.0002 | |
| AUG 0.1 | AUG 0.5 | 1.25% + AUG 0.00375 | |
| AUG 0.5 | AUG 1 | AUG 0.01 | |
| AUG 1 | AUG 5 | 1% | |
| AUG 5 | AUG 0.05 | ||
|
e-silver Spends... |
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| >= | < | Formula | |
| AGG
0.02 |
AGG 5 | 5% + AGG 0.009 | |
| AGG 5 | AGG 25 | 1.25% + AGG 0.1875 | |
| AGG 25 | AGG 50 | AGG 0.5 | |
| AGG 50 | AGG 250 | 1% | |
| AGG 250 | AGG 2.50 | ||
| e-platinum Spends... | |||
| >= | < | Formula | |
| PTG
0.0004 |
PTG 0.1 | 5% + PTG 0.0002 | |
| PTG 0.1 | PTG 0.5 | 1.25% + PTG 0.00375 | |
| PTG 0.5 | PTG 1 | PTG 0.01 | |
| PTG 1 | PTG 5 | 1% | |
| PTG 5 | PTG 0.05 | ||
| e-palladium Spends... | |||
| >= | < | Formula | |
| PDG
0.0004 |
PDG 0.1 | 5% + PDG 0.0002 | |
| PDG 0.1 | PDG 0.5 | 1.25% + PDG 0.00375 | |
| PDG 0.5 | PDG 1 | PDG 0.01 | |
| PDG 1 | PDG 5 | 1% | |
| PDG 5 | PDG 0.05 | ||
| Thank you
for using e-gold.
Dr. Douglas Jackson |
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